Question 8 (5 points) This scenario applies to question #8-10: (Periodic inventory system and gross method were used to account for inventory) Oct. Flower Corp. purchased 240 bushels of 20 flowers for $20 per bushel on credit. Terms of the purchase are 5/10, n/30, invoice dated October 20. Oct. Returned 10 bushel due to defect. 22 Oct. Paid account in full from the October 20 30 purchase. Record journal entries for the Oct. 20 transactions. (Please make two selections: one debit and one credit entry) Credit Accounts Payable for $4,800 Credit Accounts Payable for $4,560 Credit Inventory for $4,800 Debit Inventory for $4,800 Debit Purchases for $4,800 Type here to search FE